TOWhen the semiconductor crisis hit the auto industry hard, Elon Musk’s group announced an 87% increase in deliveries last year. Its turnover soared 71% to 53.82 billion dollars, slightly above analyst forecasts.
Are electric vehicles more profitable than thermal ones?
“2021 has been a defining year for Tesla. There should no longer be any doubt about the viability and profitability of electric vehicles,” the group said in a press release. Tesla even claims that its operating margin in the fourth quarter was higher than all major traditional automakers, “showing that electric vehicles can make more money than internal combustion engine vehicles.” Earnings excluding one-off items and reported earnings per share, the benchmark on Wall Street, came in at $6.78, again beating expectations. In the fourth quarter alone, the group saw its turnover grow by 65% to $17.72 billion and its net profit to $2.3 billion.
New factories in Austin and Berlin
The automaker, which has announced since the beginning of 2021 that it wants to increase its deliveries by an average of 50% per year for several years, maintains this objective. But he warns that “the rate of growth will depend on the capacity of (its) equipment, operational efficiency as well as the capacity and stability of the supply chain.” “Our own factories were operating below capacity for several quarters, primarily due to supply chain, which is expected to continue into 2022,” it adds. To increase production, the group has its new factories in Austin (Texas) and Berlin. Production was supposed to start there last year, but testing is still underway, according to a table released by Tesla on Wednesday. The group explains that it is waiting for the final green light from the authorities on the Austin-made Model Ys to begin delivery.
Tesla has also continued to benefit from the sale to other companies of the carbon credits that they grant because their cars do not emit pollutants, reaching 1,470 million dollars in income generated by these operations in 2021. The group’s share fell 0.7 % in electronic trading after the close of the New York Stock Exchange. After the announcement of a mega order of 100,000 electric vehicles from the rental company Hertz, Tesla entered the small club of companies worth more than 1,000 million dollars on Wall Street at the end of October. Since then, it has pulled back a bit, like most tech stocks.
A long-awaited Cybertruck pickup
Many observers expect Elon Musk to provide information on the arrival of new models during the conference call scheduled for Wednesday night, be it the Cybertruck, the Semi or the $25,000 car. Almost two years have passed since the first Model Y deliveries in March 2020 since Tesla has not released any vehicles. The group simply indicated in the press release that it was making “progress” in putting the Cybertruck into production. Competition is growing in its niche, between traditional automakers like Ford and GM, which promise a salvo of new electric models in the coming years, and start-ups like Rivian, which started delivering its first electric pickups in late 2021.
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